Usinas Siderurgicas de Minas Gerais (OTCMKTS:USNZY) Shares Gap Down – What’s Next?

Usinas Siderurgicas de Minas Gerais SA (OTCMKTS:USNZY) gapped down prior to trading on Wednesday . The stock had previously closed at $1.40, but opened at $1.27. Usinas Siderurgicas de Minas Gerais shares last traded at $1.25, with a volume of 23,558 shares changing hands.

Analysts Set New Price Targets

Separately, Zacks Research cut shares of Usinas Siderurgicas de Minas Gerais from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, Usinas Siderurgicas de Minas Gerais has a consensus rating of “Hold”.

Usinas Siderurgicas de Minas Gerais Price Performance

The company has a market cap of $739.56 million, a price-to-earnings ratio of -3.97, a PEG ratio of 0.13 and a beta of 1.46. The stock’s 50-day simple moving average is $1.66 and its 200 day simple moving average is $1.53. The company has a quick ratio of 2.96, a current ratio of 4.54 and a debt-to-equity ratio of 0.26.

Usinas Siderurgicas de Minas Gerais (OTCMKTS:USNZY) last posted its earnings results on Thursday, July 30th. The basic materials company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.04. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.20 billion. Usinas Siderurgicas de Minas Gerais had a positive return on equity of 5.60% and a negative net margin of 8.87%. On average, equities research analysts anticipate that Usinas Siderurgicas de Minas Gerais SA will post 0.27 EPS for the current fiscal year.

About Usinas Siderurgicas de Minas Gerais

Usinas Siderúrgicas de Minas Gerais SA (OTCMKTS: USNZY), widely known as Usiminas, is one of Brazil’s leading integrated steel producers. The company operates across the full steel value chain, from iron ore mining to the manufacture and distribution of flat steel products. Its portfolio includes hot- and cold-rolled coils, coated sheets, tin plates, plates and tubular products, which serve a broad array of end markets such as construction, automotive, packaging, machinery and energy.

Founded in the mid-1950s through a partnership between Brazilian and international investors, Usiminas is headquartered in Belo Horizonte and maintains its principal steelmaking facilities in Ipatinga, Minas Gerais, as well as secondary operations in Cubatão (São Paulo) and Santa Cruz.